The company said on Monday it suspended employees’ individual work contracts for a period of ten working days starting Aug 20. It also announced it will not be giving its employees bonuses for Oil Worker Day.
Oil Terminal reported a net loss of RON1.07 million for the first half of 2018, compared with a net profit of RON11.4 million in the same period last year. Its turnover dropped 11% in the first half of the year, to RON68 million.
Oil Terminal is 59.62% owned by the Romanian state through the Energy Ministry, 13.10% is held by Sebastian Valentin, and the remaining shares are distributed among investors on the stock market.